Aug 17, 2020, 13:30 EST
Bronx, United States, Aug 17, 2020, 13:30 /Comserve / -- The US-based audiobook and e-book subscription service, Scribd, struck a deal with LinkedIn for its professional content hosting and sharing platform SlideShare for an undisclosed amount.
California, USA, 13, Aug 2020- The US-based audiobook and e-book subscription service, Scribd, struck a deal with LinkedIn for its professional content hosting and sharing platform SlideShare for an undisclosed amount.
SlideShare is a platform which lets anyone share videos, presentations and documents. It helps users in finding relevant content posted by others and in connecting with members who share similar interests, hence serves as a social discovery platform also. SlideShare was acquired by LinkedIn in the year 2012 for approximately USD 118.75 million in cash and stock. LinkedIn was further bought by Microsoft in 2016 at USD 196 per share that valued to about USD 26.2 billion in an all-cash transaction.
According to the official statement released by LinkedIn, Scribd will overtake operation from SlideShare, along with its 100 million users and its presentation hosting and uploading tools on 24, September 2020. Scribd is like a personal library which can be carried in your pocket with ebooks, audiobooks, magazines and more which you can read and listen anytime on any compatible device. Now, with the acquisition of SlideShare, it’ll add more than 40 million new presentations which will be available for Scribd users. SlideShare will however also continue operating as a standalone service, separate from Scribd. Also, no new employees will be added as part of the deal and the existing team will be taking the responsibility for SlideShare’s operations. This acquisition of SlideShare comes after Scribd closed a deal worth USD 58 million in equity financing which was led by Spectrum Equity in November 2019.
Scribd, which is often touted as Netflix for books because of its Netflix style subscription service, opens you to a world of ebooks and audiobooks. It was started in 2007 when it launched the world’s first open publishing platform which allowed anyone to share ideas with the world. Then, in 2013 Scribd introduced first of its kind reading subscription service which provided readers with monthly access to books at some fee. In order to make available music for its users, Scribd added Sheet music in its subscription. Scribd, which is spread across 20 countries have over 100 million unique visitors in a month with about 1 million paying subscribers.
Launched in 2007, Scribd is a subscription-based platform where users can read and listen to ebooks, audiobooks, and magazines among others. Headquartered in San Francisco, USA the subscription service is available across various platforms including Android, IOS, Kindle fire Nook and PCs at a nominal fee of USD 9.99 (excluding taxes). It has several publishing partners such as Macmillan, Harper Collins, Fortune, People, The Guardian, time and many more.
LinkedIn is the world’s largest network for professionals with over 706 million users in about 200 countries and territories around the world. Found in 2002, it was officially launched in 2003. It is headquartered in Sunnyvale, California. It is an employment-oriented service operating through mobile apps and websites. It was bought by the tech giant Microsoft in 2016.
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